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A total of $60,000 was invested for one year. But of this amount earned simple annual interest at the rate of x percent per year, and the rest earned simple annual interest at the rate of y percent per year. If the total interest earned by the $60,000 for that year was $4,080, what is the value of x?
(1) x = (3/4) y
(2) The ratio of the amount that earned interest at the rate of x percent per year to the amount that earned interest at the rate of y percent per year was 3 to 2.
The OA is C.
If
a = amount invested @ x percent
b = amount invested @ y percent
and a(x%) + b(y%) = 4,080.
Statement (1) would give you
a((3/4)y) + b(y) = 4,080.
Statement (2) would give you the actual amounts invested, since
a = 60,000-b (given)
a/b = 3/2.
So you can solve for the unknowns. Any suggestion? Thanks for your help.
(1) x = (3/4) y
(2) The ratio of the amount that earned interest at the rate of x percent per year to the amount that earned interest at the rate of y percent per year was 3 to 2.
The OA is C.
If
a = amount invested @ x percent
b = amount invested @ y percent
and a(x%) + b(y%) = 4,080.
Statement (1) would give you
a((3/4)y) + b(y) = 4,080.
Statement (2) would give you the actual amounts invested, since
a = 60,000-b (given)
a/b = 3/2.
So you can solve for the unknowns. Any suggestion? Thanks for your help.
